Morgan Stanley: LNG Shipping Rates Hit Record

Shipping rates of liquefied natural gas for a period of 12-months or more rose to a record, Bloomberg reported, citing an analyst at Morgan Stanley.

A.P. Moller-Maersk, hired out LNG tanker Maersk Methane for three years at $140,000 a day, Ole Storer, a Morgan Stanley analyst said.

Morgan Stanley said one-year hire rates for 150,000 cubic meter LNG tankers rose 8.3 percent last week to $130,000 daily.

Recently, Drewry Maritime Services said that daily freight rates for spot LNG vessels rose to $112,000 in October from $42,000 a year before.

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LNG World News Staff, December 12, 2011